The episode begins and Slater and Katie are going at it when Nucky calls. Katie answers it and passes the phone to Slater. Nucky tells Slater to read a newspaper and get over immediately. In Chicago, Al Capone is upset that his son isn't at school. His wife claims the boy has a bellyache, but Al sees that his son is sporting a bruised cheek. Al is upset, at first, that another kid at school hit his kid. But he storms out of the room saying his son's "gotta toughen up". At the warehouse, Nucky makes an announcement about the dead sheriff in Tabor Heights. Nucky says it's "quite possible there's a bit more to the story," given that Gyp Rosetti was the only witness.
Nucky says all shipments to New York will use backroads. Mickey Doyle thinks it's a bad idea, given those roads are iced over in January. Mickey turns to Slater and asks if it's a good idea, which makes Nucky even more agitated. Nucky gets in Mickey's face and tells him that's the way it is. Nucky then comes over and asks Slater what's being done about Rowland Smith, the second man involved in the warehouse robbery. Slater explains that job was left to Manny Horvitz. Nucky gets upset with Slater, saying he doesn't want to have to follow up on everything. Slater says it won't happen again. Nucky suggests getting Agent Sawicki involved, if help is needed. Nucky meets with Agent Sawicki, with Slater at his side.
They're outside of Rowland Smith's house, at least based on intel from the Philly office. They bust in and see stacks of creates of whiskey. Slater notes "at least half of it is ours". Nucky says it's all theirs now. In Tabor Heights, Eli and Mickey are questioning Deputy Ramsey, who is now the sheriff. He's standing behind the story that the sheriff doused himself with gas and then lit a smoke. Mickey tells now-Sheriff Ramsey that he's got a load coming through the next night. Sheriff Ramsey takes the money Mickey hands him and says he'll "take care of it". Slater and one of the drivers are chatting at Rowland Smith's house when a guy in a leather jacket walks into the house. The kid gets smart with Slater.
Slater punches him in the gut a couple of times, then in the face. Slater ID's him as Rowland Smith and dials up the Ritz Carlton. Nucky is shown sitting with Rowland Smith. Nucky asks the kid if he knows who he is. Rowland says he's Nucky Thompson. Nucky gave his family a Christmas turkey once, when Rowland was 6. Nucky asks why, then, is Rowland stealing from him. Rowland says he didn't think Nucky would mind because he seems to be doing just fine. Rowland says some of the whiskey he's stolen was from Waxey Gordon, who he calls "a crook". Slater whispers to Nucky to tell him how he wants this to end. Slater says it's not going as planned, and he feels like it's his responsibility. Nucky says nothing to Slater, but hands Rowland a cigarette.
Just then, cars roll up and the men who emerge announce themselves as federal agents. Nucky asks Rowland what the story is and Rowland says, "Beats me". He's pretty unconvincing. He says the agents from Philly have been following. He says one of the agents is in Waxey Gordon's pocket. The agents kill a couple of lookouts, it appears, and Nucky, Slater and Rowland hide in the cellar. An agent comes down to search it, but they hide well enough to avoid being caught. Nucky, Slater and Rowland are still hiding in the cellar, when Nucky sees through a window that the agents are searching his car. He asks Slater what was left in it and Slater says, "Nothing, always keep it clean." He also notes that the license plates are in Tunney's name. Rowland says he's got about 50 license plates if Nucky needs any. He swaps them around to avoid getting caught. In New York, Lucky tells Meyer that he's been "summoned" to see Masseria.
Meyer offers to go with him, but Lucky thinks Masseria won't react well to that. In Tabor Heights, Sheriff Ramsey walks his men through a plan to move in on Gyp and his men. It's the next morning, and Nucky, Slater and Rowland are still hiding in the cellar. They have a little heart to heart, and Slater tells Nucky, "I know who's in charge, Mr. Thompson." Nucky asks Slater what he's done to earn Slater's loyalty. Slater says, "You made a place for me". Then Nucky asks him the real answer and Slater says, "You pay me". In Chicago, Al is shocked to see Jake battered and bruised. Jake tells him about Joe's attack. Lucky meets with Masseria, who doesn't seem too happy. He offers Lucky a seat right next to the window.
Lucky sits down. Masseria explains some of what he thinks is the differences between Jewish gangsters and Italian ones. He wants a cut of the heroin business that's done in his territory. Lucky offers 2 percent within the territory. Masseria doesn't like this offer at all. After some uncomfortable chit-chat, Masseria tells Lucky he worries about him. He says he doesn't know him anymore. Masseria asks for 30 percent within the territory. Lucky tells him they're far apart, but say he'll discuss it. He gets up to leave and Masseria tells Lucky that Rothstein and Meyer will stab him in the back. Rothstein calls Mickey Doyle and immediately asks a rhetorical question, "Why am I talking to you?" Rothstein is flummoxed that this conversation is even happening.
It's because he doesn't have his liquor and he can't reach Nucky. Rothstein tells Mickey he wants what he pays for, he wants it now. Mickey promises he'll have it by the next morning. Back at the warehouse, Eli tells Mickey he's an idiot for having promised it by the next morning. Eli reminds Mickey that Nucky explicitly said to avoid Tabor Heights, but Mickey insists the back roads are iced over until May. Eli says he should postpone the delivery. Eli tells Mickey again, "not to do this". Mickey says, "I'm not doing anything. They are," referring to the drivers. He tells one kid to go straight through to New York, gassing up in Tabor Heights, and stopping for nobody; not even the law. In Chicago, Joe Miller shows up at a bar where Al is waiting. Joe sidles up and Al attacks him and beats him up.
Al then takes out a wad of cash, and tosses bills at Joe Miller's lifeless body. "Pay for his funeral," he says, tossing the rest of the money onto the bar. Night has fallen and Nucky, Slater and Rowland are still in the cellar. The last car drives away. They head upstairs and Rowland says he might have some bacon and eggs in the icebox. Eli on the other hand, is driving all, on his own. He pulls over in Tabor Heights, across the street from the gas station. He watches while the sheriff and his men meet with Gyp and his men. It's soon clear that the sheriff and Gyp are in this together, and ambush is about to take place. Slater gets off the phone and tells Nucky that Rothstein's shipment is on its way, through Tabor Heights. Slater says word came back that it was clear.
Nucky walks over to Rowland, who tries to talk Nucky into hiring him. Rowland then admits he's actually 19. Nucky offers him one of his own cigarettes and lights it for him. A car pulls up and Slater turns to look out the window. Rowland turns his back to Nucky, who turns his back, pulls out a gun and shoots Rowland in the back of the head. Slater, startled by the shot, quickly turns with his gun drawn and isn't sure where to aim. He aims briefly at Nucky, but lowers the gun once he's figured out what happened. "I thought you were letting him go," Slater says. "Why would you think that?" Nucky says. "I misunderstood," Slater says. "As long as you understand now," Nucky tells him.
The car outside was Eddie. Eli tries in vain to stop the caravan, shouting, "It's an ambush". But the main driver keeps going, saying, "Mickey said don't stop for nobody". The cars pass and Eli jumps back into his car, which dies apparently out of gas. Eli hears a hail of gunfire in the distance and knows exactly what happened. Gyp and his man survey the scene. Nucky is shown walking alone on the Boardwalk and Eli calls him over. Margaret reads the headline that Carrie Duncan's plane crashed near Yosemite. Eli tells Nucky he has to talk to him. Nucky says they've had their conversation, but Eli tells him, "This is about something, and you gotta hear it". Nucky walks with him. The episode ends at this point.